DraftKings Completes $750M Acquisition of Jackpocket

In February, DraftKings finalized a $750 million acquisition deal with Jackpocket, a prominent lottery app in America. The transaction has now been officially completed, cementing the former company as the owner of the leading lottery specialist.

Jackpocket is an app that has been favored by millions of customers across the US. Thanks to its innovative digital lottery services, reliable technology and strong brand presence, the app has solidified itself as many people’s preferred way to engage with lottery gaming.

For DraftKings, this deal represents a significant opportunity as it will allow the leading US gaming and betting brand to further expand its footprint. The arrangement is expected to expand the operator’s position by improving customer lifetime value and enhancing DraftKings’ customer acquisition capabilities.

With the deal completed, DraftKings will now focus on integrating Jackpocket into its business. As part of the former company, Jackpocket will exemplify the gambling juggernaut’s commitment to providing exceptional and engaging yet safe gaming experiences.

A New Chapter for the Two Companies

Representatives expressed their thoughts about the completed deal, sharing their excitement about the future. Jason Robins, DraftKings’ co-founder and chief executive officer, for example, was happy to announce the completion of the acquisition and the commencement of his company’s value creation plan.

We look forward to continuing to deliver enhanced value to our customers and shareholders as we integrate Jackpocket into the DraftKings ecosystem.

Jason Robins, co-founder & CEO, DraftKings

Robins said that his team is now ready to launch cross-sell programs, further improve customer acquisition efficiency, and continue to innovate and differentiate with its product portfolio.

In the meantime, Peter Sullivan, Jackpocket’s chief executive, said that the completion of the deal represents the beginning of an exciting new era for the two companies.

Together, we are confident that we will be even more capable of helping lotteries fulfill their mission of delivering revenue back to the beneficiaries they support.

Peter Sullivan, CEO, Jackpocket

Sullivan added that DraftKings’ proven reach and cutting-edge mobile platforms will underpin Jackpocket as it continues to drive growth and innovation in the digital lottery sector.

In other news, DraftKings just had a historic sports betting week in New York.